Short Interest in Global Interactive Technologies, Inc. (NASDAQ:GITS) Decreases By 75.8%

Global Interactive Technologies, Inc. (NASDAQ:GITS) was the target of a significant drop in short interest in the month of August. As of August 14th, there was short interest totaling 8,464 shares, a drop of 75.8% from the July 30th total of 34,996 shares. Approximately 0.3% of the company’s stock are sold short. Based on an average daily trading volume, of 194,605 shares, the short-interest ratio is presently 0.0 days.

Global Interactive Technologies Stock Up 9.4%

Shares of NASDAQ:GITS opened at $1.97 on Friday. The firm has a fifty day moving average of $2.05 and a two-hundred day moving average of $2.07. Global Interactive Technologies has a 12-month low of $0.66 and a 12-month high of $7.09. The firm has a market capitalization of $7.23 million, a P/E ratio of -1.40 and a beta of -0.61.

Global Interactive Technologies (NASDAQ:GITS) last announced its quarterly earnings data on Monday, June 22nd. The company reported ($0.14) earnings per share (EPS) for the quarter. The company had revenue of $0.00 million during the quarter.

Institutional Investors Weigh In On Global Interactive Technologies

An institutional investor recently bought a new position in Global Interactive Technologies stock. Citadel Advisors LLC bought a new stake in Global Interactive Technologies, Inc. (NASDAQ:GITS) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 17,900 shares of the company’s stock, valued at approximately $41,000. Citadel Advisors LLC owned about 0.49% of Global Interactive Technologies as of its most recent SEC filing. Institutional investors own 0.22% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Global Interactive Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Global Interactive Technologies Company Profile

Global Interactive Technologies, Inc engages in the provision of a global multi-media platform for users to interact with other like-minded users to share appreciation of various types of entertainment and cultures such as K-POP and modern Korean culture. It operates through the FANTOO platform. The company was founded on October 20, 2021 and is headquartered in Seoul, South Korea.